29th Jan 2021 13:48
Chrysalis Investments Ltd - invests fast-growing, tech-enabled private companies in UK and Europe - Ends September 2020 with net asset value per share of 160.97 pence, up 42% from 113.33p at the same point a year before. Net assets grow to GBP542 million from GBP382 million. Does not declare dividend, in line with year before. Says it seen a strong performance from the majority of portfolio companies, delivering approximately 60% blended revenue growth year-on-year.
Co-Portfolio Managers Nick Williamson and Richard Watts add: "The portfolio performed well last year, as the impact of COVID-19 accelerated society's shift online, a dynamic which our investee companies are typically exposed to. Net investment gains were widely spread, with three major assets delivering externally validated, material valuation growth, being Klarna, TransferWise, and culminating in the successful IPO of THG. Having begun our expansion outside the UK with our initial investment in Klarna in 2019, we ended 2020 with our first US investment - You & Mr Jones - which took the number of portfolio holdings to 12.
"Looking ahead, we believe the portfolio in aggregate is well positioned to continue to generate robust sales growth, based on the strong adoption of our investee companies' services by new users over 2020. In combination with exciting possible follow-ons and new investment opportunities, we are optimistic over prospects for the company in 2021."
Current stock price: 195.24 pence
Year-to-date change: up 3.9%
By Paul McGowan; [email protected]
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